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REHAB Fair receives Tk1,500 crore spot orders

Participants made commitments to provide loans of Tk2,000 crore for the purchase of flats

Realtors have received spot orders and commitments for flats, plots, and commercial space of Tk1,500 crore at REHAB Fair 2019, which concluded on Sunday.

Financial institutions, who participated in the exposition, made commitments to provide loans of Tk2,000 crore for the purchase of flats.

The five-day Real Estate and Housing Association of Bangladesh (REHAB) fairtook place February 6-10 at Bangabandhu International Conference Centre (BICC).

According to REHAB data, a total of 28,103 people visited the expo and placed orders worth Tk1,500 crore to buy flats, plots, and commercial space.

Last year, sales stood at Tk638 crore.

“In this year’s fair, visitors were more active and focused on buying flats and placing orders to purchase,” Golam Moin Chowdhury, deputy manager, sales and marketing of Anwar Landmark, a realtor company, told the Dhaka Tribune.

The buyers’ confidence was boosted by the political stability and economic growth of the country, while the government’s plan to reduce registration fees and allow gas connections to households enhanced confidence, said Moin.

On top of that, enhanced home loans provided to public servants increased the purchasing power to buy flats, he added.

According to the government’s decision, a government official can avail a home loan of up to Tk75 lakh.

At the fair, financial institutions and banks also attended the fair to woo people in a bid to provide loans to clients to buy flats, plots, and commercial space to lessen the burden of cash payment.

“A good number of visitors showed keen interest in buying flats on credit and they came to us to know how they could avail loans. Based on demand, we have made commitments to provide credit facilities for the purchase of flats or commercial space,” Md Rafikul Islam, public relations officer of Prime Bank Ltd told the Dhaka Tribune.

Since the prevailing economic and political situation is stable, we are hoping for a better materialization of commitment, he added.

A total of 168 developer companies participated in the expo, while 20 building materials and 14 money lending organizations also took part.

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